The public policy of the United States is broadly in favor of competition. Our antitrust laws are premised on the idea that in the absence of such legislation private interests would seek to create monopolies, fix prices, restrain trade, and stifle competition. Moreover, the federal government, as well as the states and municipalities, has laws mandating competitive bidding on government contracts to guard the public against “sweetheart deals” that squander tax dollars. Open competition, in fact, is usually the undoing of those conspiracies against the public that Adam Smith saw as so
prevalent. Read the rest of entry »

In most cases, employers who prescribe to workers’ compensation insurance enjoy immunity from civil lawsuits by their employees who suffer on-the-job injuries. This immunity is a trade-off that employers enjoy in exchange for a no-fault workers’ compensation system in which injured employees are compensated even where the injury was not the fault of the employer and/or may have even been the fault of the injured employee.Read the rest of entry »